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MCQs

Total Questions : 874 | Page 21 of 88 pages
Question 201. Passive factor of production is
  1.    Only Land
  2.    Only Capital
  3.    Both Land & Capital
  4.    Neither Land nor Capital
 Discuss Question
Answer: Option C. -> Both Land & Capital
Question 202. Under law of demand
  1.    Price of commodity is an independent variable
  2.    Quantity demanded is a dependent variable
  3.    Reciprocal relationship is found between price and quantity demanded
  4.    All of the above
 Discuss Question
Answer: Option D. -> All of the above
Question 203. Mixed economy means an economy where
  1.    Both agriculture and industry are equally promoted by the state
  2.    There is co-existence of public sector along with private sector
  3.    There is importance of small scale industries along with heavy industries
  4.    Economy is controlled by military as well as civilian rulers
 Discuss Question
Answer: Option B. -> There is co-existence of public sector along with private sector
Question 204. For inferior commodities, income effect is
  1.    Zero
  2.    Negative
  3.    Infinite
  4.    Positive
 Discuss Question
Answer: Option B. -> Negative
Question 205. When total utility becomes maximum, then marginal utility will be
  1.    Minimum
  2.    Average
  3.    Zero
  4.    Negative
 Discuss Question
Answer: Option C. -> Zero
Question 206. Utility means
  1.    Power to satisfy a want
  2.    Usefulness
  3.    Willingness of a person
  4.    Harmfulness
 Discuss Question
Answer: Option A. -> Power to satisfy a want
Question 207. Marginal utility is equal to average utility at that time when average utility is
  1.    Increasing
  2.    Maximum
  3.    Falling
  4.    Minimum
 Discuss Question
Answer: Option B. -> Maximum
Question 208. Which one of the following is the task of the Planning Commission?
  1.    Preparation of the plan
  2.    Implementation of the plan
  3.    Financing of the plan
  4.    None of the above
 Discuss Question
Answer: Option A. -> Preparation of the plan
Question 209. At the point of satiety, marginal utility is
  1.    Zero
  2.    Positive
  3.    Maximum
  4.    Negative
 Discuss Question
Answer: Option B. -> Positive
Question 210. Total utility of a commodity is measured by which price of that commodity?
  1.    Value in use
  2.    Value in exchange
  3.    Both of above
  4.    None of above
 Discuss Question
Answer: Option A. -> Value in use

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